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Forecast for EUR/USD on December 8, 2022

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Yesterday, the pound was down along with the rest of the counter-dollar currencies. It closed the day almost at 1.2200 (1.2202), which means it did not settle below the level

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The Australian dollar gained 0.58% yesterday. The price reached the resistance at 0.6730 and in today’s Asian session it is moving down from it. The Marlin oscillator is already moving

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The EUR/USD pair has faced strong resistances at the levels of 1.0512 because support had become resistance on Nov. 29, 2022. So, the strong resistance has been already formed

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The EUR/USD pair is trading in the green at 1.0517 at the time of writing. It has rallied today as the Dollar Index turned to the downside again

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The market remained under Selling pressure until the recent bullish break above 1.0000 was achieved. Now the market remains under buying pressure until significant downside rejection occurs around

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Intensive bullish price action was demonstrated around the lower limit of the current movement channel. Initial bullish targets around 1.0150 and 1.0500 were already reached. Price action around this key-level

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The next key-level to be visited was located around 1.2340. That’s why, further bullish advancement was expected. Price action around 1.2340 was being watched for bearish rejection and a short-term

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Early in the American season, the British pound is trading exactly at the 21 SMA located at 1.2216, having reached the top of the downtrend channel which has been underway

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On Tuesday, the EUR/USD pair moved closer to the correctional level of 200.0% at 1.0430. Today, it reversed and started a new uptrend towards the correctional level of 161.8%

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